International oil companies get Iraqi crude instead of financial dues

At the time of a major oil company announced Iraqi crude shipped instead dues operations in the country's south, a spokesman for the Oil Ministry said that the agreement with companies operating in Iraq signed to facilitate debt repayment process, stressing that prices are calculated according to the international markets, with expert warned of continuing compensation companies after the end of the financial crisis.

A spokesman for the Oil Ministry, Assem Jihad, in an interview for the "long", that "most of the oil companies operating in Iraq want to take crude oil instead of financial dues owed by the Ministry of Oil," noting that "the agreement with these companies provides the raw calculated according to world market prices. "

He Jihad saying that "agreements existed before the crisis, lower prices, which is not new," pointing out that "some companies have a desire to take the oil instead of entitlements, and the process is no different for us because it is similar to the process of the sale of oil, and these agreements was to facilitate the process the payment of dues. "

For his part, said an expert on economic affairs Majid picture "long", that "the payment of financial dues financial firms through access to crude oil is beneficial for Iraq," noting that "the price calculated per barrel must be according to the international price with some discounts granted in the markets. "

He said the expert way the granting of crude oil to international companies rather than financial dues as "a very big help for Iraq in the presence of a major financial crisis in the country."

However, the picture by saying that "this issue should not continue after the improvement of financial matters in the country," and urged the Iraqi government to "lack of extravagance in Iraq's money, and that the Iraqi funds managed rational management, in terms of subject company Sumo or the oil ministry, but state funds management Iraq in general. "

He expert that "Iraq has in prior periods to pay the debt through the granting of crude oil to the creditors, and it falls on the most oil-exporting countries such as Saudi Arabia and others," pointing out that "this method to pay the debt to help Iraq to a very large degree in resolving the financial crisis, and at least commitments Iraqi foreign state. "

He was a senior executive at BP, the oil company operating in southern Iraq, said yesterday the first Monday that "the big British oil company shipped more Iraqi crude in the last two months instead of its dues in the south of the country and expressed satisfaction with the level of shipments."

And payment of falling oil prices and fight al "Daash" Baghdad to delay payments of billions of dollars owed to international oil companies and then was to allow companies access to oil shipments in lieu of dues.

Said Michael Townshend head of BP operations in the Middle East that "the total current production from Rumaila giant oil field in Iraq amounts to about 1.4 million barrels per day and is expected to remain stable in 2015".